Tuesday, June 29, 2010

History in the making.

According to VentureBeat:

Crowdstar is giving a big endorsement to Facebook Credits. The social gaming company has made a five-year commitment to using Facebook’s virtual currency.

The use of Facebook Credits is important to Facebook as a way to monetize its vast audience of nearly 500 million monthly active users. Davis said early results show that Facebook Credits is increasing both the revenue per paying user and the number of people who are buying things in apps. He acknowledged that changes that Facebook made to its platform this spring have slowed growth of games, but he said that newly launched Facebook games are seeing rapid growth.

History of money shows that introduction of a widely accepted currency is key to the development of a market for services. So far, we've seen trading in goods only. One reason for that would be narrow scope of most gaming scenarios and lack of service development tools. Another, a steep tax (30%) that Facebook imposes on all transactions.

tags: commerce, money, payload, service, control, market, scale, games, virtual

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